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Wednesday, 22 June 11
BOOMING INDONESIAN COAL EXPORTS - BLEEDING INDIAN POWER INDUSTRY
 COALspot.com - Indonesia shipped 28.962 Million tons of coal in May 2011, up by 15.86 percent compared to April export of about 24.995 million tons, Indonesian coal industry sources said. 56.30 percent up year-to year.
China's Indonesian coal imports have jumped up drastically in May by 2.105 MMt compared to its April imports. Chinese coal imports from Indonesia in May was higher than India's imports from Indonesia. India has imported 6.368 million tons in May where’s China has imported about 8.21 MMt which was 1.841 million MT higher.
India has lost its largest Indonesian coal importer status to China first time in the last five months. India was the largest Indonesian coal importer since January 2011 followed by China and other Asian countries. China is expected to import more coal in this month and coming months to increase energy supplies to prevent a worsening of its summer power shortage in seven years.
According to analyst, China faces a power shortfall, and that may extend to 40GW this northern summer, surpassing its 2004 power shortfall. China’s benchmark power-station coal prices rose to the highest since October 2008 as summer electricity demand increased in the world’s fastest-growing major economy, as quoted by Bloomberg its report early this week.
According to Indian coal minister, Indian coal imports may be at 250 million tons per annum by 2016. Coal imports is unavoidable option for Indian utilities due to non availability of economically viable coal from domestic mines. However, according to Indian UMPPs, due to Indonesian government regulation that forces all coal producers must sell coal at government declared monthly prices, would cost them at least US$ 30 per ton higher than they previously budgeted.
"Implementation of this proposed new rule by the Indonesian government ( I.e., the law mandates all coal producers to sell coal at government declared prices) will adversely impact all existing and future imported coal-based power plants in India, including UMPPs," Ashok Khurana, the Director General of the Association of Power Producers, said as reported by an Indian paper.
“When Indian companies invest in Indonesia, they tend to have the intent to sell coal at cost, so that Indonesian business unit remained at no or negligible profits. Taking a holistic view, however, the cash flows in an integrated Indonesian coal mining and Indian power generation unit after this regulation will continue to be similar, except that income taxes will be paid in Indonesia, and the cash flows will need to be brought on the books on Indian power project after paying taxes in Indonesia through appropriate and innovative business structuring,” said Dipesh Dipu, director, at Deloitte, mydigitalfc reported.
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Indonesia has introduced bench mark pricing mechanism for its coal since February 2010, and it has implemented for the domestic supplies as well export market. The pricing was done on very transparent way using four internationally acceptable coal indices to generate monthly Indonesian coal reference prices for about 62 types of coal including 8 types of bench mark qualities.
The regulation also requires miners to report sales volumes, prices, and buyers every month to the government, allowing it to ensure that the rules are being followed. Violations can lead to revocation of mining permits. The price benchmark aims to prevent firms selling coal to affiliates at low prices to avoid taxes that hurts Indonesia's efforts to collect revenues from its massive commodity exports.
Ministry of Energy and Mineral Resources of Indonesia has set the June 2011 Indonesian Coal Reference Price for thermal coal at US$ 119.03 per ton per ton, which was 1.20 percent higher than May 2011 price of US$ US$ 117.61. Assessment basis of coal price reference was calculated considering coal with GCV (GAR) 6,322 kcal/kg, Total Moisture (arb) 8.00%, Total Sulphur (arb) 0.8%, Ash Content (arb) 15.00% and delivery free on Board (FOB) Vessel basis and applicable for spot contract, delivery between 1 – 30 June 2011.
Indonesian bituminous coal of 5,500 kcal/kg NAR was offered at between $ 108 - 110 a ton, FOB vessel basis this week, slightly up from last week price, traders said.
According to Indian power industry sources opined that Indian UMPPs ( ultra-mega power project) suddenly caught in between as the concept of UMPP was implemented 4 to 5 years back. The large scale industrial houses in India have bided and secured UMPP licenses based on the open market prices /long term coal contracts from Indonesian producers (I.e., pre regulated Indonesian market). Now that Indonesian coal reference price mechanism is in place all the UMPP's are seeking Indian government’s assistance in revising the Power Tariff of UMPP.
Now, the bankers who have funded the projects are bit worried about the rising Indonesian coal costs versus the power sales price which was pegged at pre-regulation prices, Indian banking industry sources said. Now, we need to see whether Indian Government allows the UMPPs to revise the power sale prices based on Indonesian coal reference price mechanism.
As such India cement and steel industries were used to buy coal from South Africa and Australia on index base pricing mechanism since last four to five years. in view of the attractive profit margin levels, entire Indonesian coal producers migrated to Index based pricing for coal contracts . “Where's still many of the Indian utilities and private consumers are still procuring the coal on firm delivered basis. This concept is creating lot of confusion in the Indian trade circles” an Indian trader commented.
77.12 percent of total coal exports in May goes to China, India, South Korea, Japan and Taiwan respectively.
The coal export information within this article is provided by coalspot.com on an "as is" and "as available” basis. All details about, given in good faith, without guarantee. While every care has been taken to ensure the accuracy of information furnished in this article. COALspot.com shall be obliged if errors / omissions are brought to its notice for carrying out corrections in this article.
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Tuesday, 18 February 20
ADARO REMAINS POSITIVE ON THE LONG-TERM FUNDAMENTALS OF COAL MARKET SUPPORTED BY THE SOUTHEAST ASIA AND SOUTH ASIA REGION
The global seaborne thermal coal market in 2019 was faced with macro and industry challenges which pushed international coa ...
Tuesday, 18 February 20
CORONAVIRUS AND ITS IMPACT ON YOUR CONTRACT - CAN YOU RELY ON 'FORCE MAJEURE'? - INCE
KNOWLEDGE TO ELEVATE
On 30 January 2020, the World Health Organization (WHO) declared that the outbreak of the Novel Coronavirus (officially t ...
Monday, 17 February 20
IMO-2020 SULPHUR CAP - ISSUES TO CONSIDER PRIOR TO THE IMPLEMENTATION OF THE CARRIAGE BAN ON 1 MARCH 2020 - STANDARD CLUB
With the IMO 2020 global sulphur cap now in force, members should bear in mind another significant date in relation to the ‘carriage ban&rsqu ...
Monday, 17 February 20
COVID-19: THE EFFECT OF THIS PUBLIC HEALTH EMERGENCY ON CHARTERPARTY TERMS - GARD
KNOWLEDGE TO ELEVATE
Is it useful to compare the COVID-19 with earlier disease outbreaks?
A comparison with the Ebola outbreak ...
Saturday, 15 February 20
CHINA'S BENCHMARK POWER COAL PRICE EDGES UP - REUTERS
China’s benchmark power coal price rose slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Salva Resources Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Kobexindo Tractors - Indoneisa
- Bhushan Steel Limited - India
- Georgia Ports Authority, United States
- PTC India Limited - India
- ASAPP Information Group - India
- Aditya Birla Group - India
- Bharathi Cement Corporation - India
- Formosa Plastics Group - Taiwan
- South Luzon Thermal Energy Corporation
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate Of Revenue Intelligence - India
- Rashtriya Ispat Nigam Limited - India
- Indian Oil Corporation Limited
- The University of Queensland
- Central Java Power - Indonesia
- GMR Energy Limited - India
- Intertek Mineral Services - Indonesia
- Sakthi Sugars Limited - India
- San Jose City I Power Corp, Philippines
- The State Trading Corporation of India Ltd
- Altura Mining Limited, Indonesia
- Chettinad Cement Corporation Ltd - India
- Ind-Barath Power Infra Limited - India
- Madhucon Powers Ltd - India
- Coal and Oil Company - UAE
- Eastern Energy - Thailand
- Karaikal Port Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Thai Mozambique Logistica
- Uttam Galva Steels Limited - India
- Tata Chemicals Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Parliament of New Zealand
- Maheswari Brothers Coal Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Carbofer General Trading SA - India
- Antam Resourcindo - Indonesia
- Mercator Lines Limited - India
- Indika Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Riau Bara Harum - Indonesia
- Wilmar Investment Holdings
- Grasim Industreis Ltd - India
- Savvy Resources Ltd - HongKong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Cement Manufacturers Association - India
- Metalloyd Limited - United Kingdom
- Essar Steel Hazira Ltd - India
- Renaissance Capital - South Africa
- Energy Link Ltd, New Zealand
- Bukit Makmur.PT - Indonesia
- Merrill Lynch Commodities Europe
- Jaiprakash Power Ventures ltd
- Agrawal Coal Company - India
- Bangladesh Power Developement Board
- GVK Power & Infra Limited - India
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- New Zealand Coal & Carbon
- Siam City Cement - Thailand
- Heidelberg Cement - Germany
- ICICI Bank Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Petron Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coastal Gujarat Power Limited - India
- Vizag Seaport Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Australian Coal Association
- Manunggal Multi Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Kumho Petrochemical, South Korea
- GAC Shipping (India) Pvt Ltd
- Samtan Co., Ltd - South Korea
- Rio Tinto Coal - Australia
- Kaltim Prima Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Planning Commission, India
- Global Green Power PLC Corporation, Philippines
- SMC Global Power, Philippines
- Coalindo Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Xindia Steels Limited - India
- Minerals Council of Australia
- Parry Sugars Refinery, India
- Latin American Coal - Colombia
- Therma Luzon, Inc, Philippines
- Lanco Infratech Ltd - India
- Videocon Industries ltd - India
- Independent Power Producers Association of India
- Malabar Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Ambuja Cements Ltd - India
- Eastern Coal Council - USA
- Ceylon Electricity Board - Sri Lanka
- London Commodity Brokers - England
- Chamber of Mines of South Africa
- Tamil Nadu electricity Board
- PNOC Exploration Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Australian Commodity Traders Exchange
- Banpu Public Company Limited - Thailand
- Ministry of Mines - Canada
- Thiess Contractors Indonesia
- Indo Tambangraya Megah - Indonesia
- CIMB Investment Bank - Malaysia
- Electricity Authority, New Zealand
- Cigading International Bulk Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- IHS Mccloskey Coal Group - USA
- Mercuria Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Larsen & Toubro Limited - India
- LBH Netherlands Bv - Netherlands
- Gujarat Sidhee Cement - India
- Global Business Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Barasentosa Lestari - Indonesia
- Indonesian Coal Mining Association
- GN Power Mariveles Coal Plant, Philippines
- Electricity Generating Authority of Thailand
- European Bulk Services B.V. - Netherlands
- Semirara Mining Corp, Philippines
- Bhoruka Overseas - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- CNBM International Corporation - China
- Ministry of Transport, Egypt
- TeaM Sual Corporation - Philippines
- Orica Australia Pty. Ltd.
- Africa Commodities Group - South Africa
- Power Finance Corporation Ltd., India
- Billiton Holdings Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Energy Development Corp, Philippines
- Economic Council, Georgia
- PowerSource Philippines DevCo
- Aboitiz Power Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Jindal Steel & Power Ltd - India
- Borneo Indobara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Finance - Indonesia
- Baramulti Group, Indonesia
- Miang Besar Coal Terminal - Indonesia
- The Treasury - Australian Government
- Pendopo Energi Batubara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement PLC, Thailand
- IEA Clean Coal Centre - UK
- Commonwealth Bank - Australia
- MS Steel International - UAE
- Bhatia International Limited - India
- Toyota Tsusho Corporation, Japan
- Maharashtra Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Wood Mackenzie - Singapore
- Sical Logistics Limited - India
- Iligan Light & Power Inc, Philippines
- Vedanta Resources Plc - India
- Global Coal Blending Company Limited - Australia
- Mjunction Services Limited - India
- Alfred C Toepfer International GmbH - Germany
- Makarim & Taira - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Romanian Commodities Exchange
- Bulk Trading Sa - Switzerland
- International Coal Ventures Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Oldendorff Carriers - Singapore
- Simpson Spence & Young - Indonesia
- Medco Energi Mining Internasional
- Trasteel International SA, Italy
- Sree Jayajothi Cements Limited - India
- McConnell Dowell - Australia
- Straits Asia Resources Limited - Singapore
- Dalmia Cement Bharat India
- Attock Cement Pakistan Limited
- Interocean Group of Companies - India
- India Bulls Power Limited - India
- Indogreen Group - Indonesia
- Meralco Power Generation, Philippines
- Orica Mining Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- SMG Consultants - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Deloitte Consulting - India
- Indian Energy Exchange, India
- Mintek Dendrill Indonesia
- Sojitz Corporation - Japan
- Marubeni Corporation - India
- White Energy Company Limited
- Central Electricity Authority - India
- Star Paper Mills Limited - India
- Standard Chartered Bank - UAE
- Anglo American - United Kingdom
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
- Goldman Sachs - Singapore
- AsiaOL BioFuels Corp., Philippines
- Bukit Baiduri Energy - Indonesia
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